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China to create currency test zone

Discussion in 'International Forum' started by MaxShimba, Jul 24, 2012.

  1. MaxShimba

    MaxShimba JF-Expert Member

    Jul 24, 2012
    Joined: Apr 11, 2008
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    Beijing (Financial Times) -- China plans to create a special zone to experiment with currency convertibility in Shenzhen, the city where it introduced key economic reforms three decades ago.

    The measure will enable Hong Kong banks to lend renminbi directly to companies in Qianhai Bay -- a new economic zone on a peninsula across the water from Hong Kong -- according to Chinese state media.

    Bejing will unveil the details on Friday as Hu Jintao, Chinese president, visits

    Read more http://edition.cnn.com/2012/06/29/business/china-qianhai-currency-zone/index.html?eref=edition